---
schema_version: "secwatch.filing_event.v1"
accession: "0000706863-23-000051"
form_type: "8-K"
ticker: "UNB"
cik: "0000706863"
company_name: "UNION BANKSHARES INC"
filed_at: "2023-07-19T23:59:59+00:00"
generated_at: "2026-06-13T06:40:27.844180+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Union Bankshares Q2 net income down 7.9% to $2.7M; EPS $0.60; declares $0.36 dividend

## Summary
- Q2 2023 net income $2.7M ($0.60 EPS) vs $2.9M ($0.65 EPS) a year ago, a decrease of $232K.
- Net interest income $9.6M, down 0.5% YoY; interest expense rose 384.9% in first half due to higher rates.
- Total assets $1.3B, loans $940.2M; deposits $1.1B including $138M brokered deposits and $120.5M FHLB advances.
- Vermont floods closed one branch (Johnson); reopened Jeffersonville via drive-up; assisting customers.
- Quarterly cash dividend of $0.36/share declared, payable Aug 3, 2023 to holders of record Jul 29.

## SEC filing metadata
- accession: 0000706863-23-000051
- form_type: 8-K
- ticker: UNB
- cik: 0000706863
- company_name: UNION BANKSHARES INC
- filed_at: 2023-07-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/0000706863-23-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/unb-20230719.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000706863-23-000051
- JSON: https://secwatch.observer/filing/0000706863-23-000051.json
- Plain text: https://secwatch.observer/filing/0000706863-23-000051.txt

## Key facts
- Earnings Releases
  UNION BANKSHARES INC reported the three months ended June 30, 2023 results: revenue $9.6 million, net income $2.7 million, EPS $0.60 per share.
  - Period: the three months ended June 30, 2023
  - Revenue: $9.6 million
  - Net income: $2.7 million
  - EPS: $0.60 per share
  - Result: reported results
  source text: in noninterest income of $203 thousand, a reduction of $96 thousand in credit loss expense and a decrease in income tax expense of $175 thousand. Net interest income was $9.6 million for the three months ended June 30, 2023 compared to $9.7 million for the three months ended June 30, 2022, a decrease of $53 thousand, or 0.5%. Interest income was $13.8 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/0000706863-23-000051-index.htm
- Earnings Releases
  UNION BANKSHARES INC reported the six months ended June 30, 2023 results: revenue $26.8 million, net income $5.7 million, EPS $1.26 per share.
  - Period: the six months ended June 30, 2023
  - Revenue: $26.8 million
  - Net income: $5.7 million
  - EPS: $1.26 per share
  - Result: reported results
  source text: loss expense of $22 thousand, and a decrease of $138 thousand in income tax expense, partially offset by an increase in noninterest expenses of $1.1 million. Interest income was $26.8 million for the six months ended June 30, 2023 compared to $20.1 million for the comparable period in 2022, an increase of $6.7 million, or 33.4%, due to a larger earning asset base and
  evidence_url: https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/0000706863-23-000051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.